“Apple Inc is gearing up to sell audio ads on a music-streaming service it intends to unveil at its developers conference next week, according to people familiar with the plan,” Poornima Gupta reports for Reuters.
“The music service, dubbed ‘iRadio’ by the tech industry and media, is expected to closely resemble Pandora Music in its monetization strategy. It will feature audio and banner ads sold through Apple’s iAd mobile network, said the people who were not authorized to speak publicly. The service, which is expected to launch later this year, will also have ads currently sold by the iAd division, they said,” Gupta reports. “The new ad-supported music service from Apple, which pioneered and now dominates music purchases through iTunes, is expected to be free to users.”
Gupta reports, “To ensure the service debuts with ample content, Apple has been rushing to ink deals with the music industry. Apple has agreements in place with Warner Music Group and Universal Music Group but remains in talks over music rights with Sony Music Entertainment as well as its separate publishing arm, Sony/ATV.”
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